Prashant Bhushan rues SC’s “welcoming wink” and tax authorities’ “benign attitude” to “blatant evasion” of tax; hopes India is not a “banana republic” for “post box companies” et al [ITAT Online]

Karnataka State Bar Council swears off representing media houses in litigation; lawyers bleed [Deccan Herald, YouTube] [Reader blog about persecution]

FCCBs now come only against collateral security of assets [Business Standard]

Regulatory issues re outbound Indian M&A [Indian Corporate Law, Discussion Paper]

Delhi High Court dismisses criminal charges against Yahoo for lack of evidence [Law et al News]

Vedanta strategically makes sense post Vodafone; no TDS obligation on Sesa subsidy buying Vedanta subsidy’s stake in Cairn [The Hindu Businessline]

Google to Delhi Court: Blanket editorializing policy for user generated content is unconstitutional, impracticable [First Post]

Likely ‘Court-overseen’ settlement costs on BP : Civil = $7.8 m + (gross negligence X oil barrels X $4300), Criminal = $28 bn fine [Wall Street Journal]

How finance ministry goof-ups led to questioning of Indian equity market regulations’ integrity on Thursday [Financial Express]